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Ripple News

Analysis: Crypto Market Relatively Stable Today, Ripple (XRP) With Decent Gains

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Analysis Crypto Market Relatively Stable Today Ripple XRP With Decent Gains FILEminimizer - Analysis: Crypto Market Relatively Stable Today, Ripple (XRP) With Decent Gains
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In the daily cryptocurrency news, we are reporting the recent situation on the market, which has been relatively stable over the past 24 hours for Bitcoin and most of the altcoins – just like the past few days.

Bitcoin, the most dominant cryptocurrency, is up by about 0.20% today, trading at $6,484 at press time. BTC showed little volatility over the day, with its price rising to as high as $6,521 and correcting to $6,456 afterwards. Bitcoin has been trading sideways for the past 10 days, following its strong surge recorded on October 15th.

Ethereum (ETH), as the second leading cryptocurrency by market cap, is up by 1.87% and is now trading at $202 at press time. Similar to Bitcoin, ETH has been stable over the past ten days, hovering around the $200 mark.

Ripple (XRP) has been recording impressive gains of about 3.5% over the past 24 hour period – which brought it to a price point of $0.47. However, since then XRP has corrected and at press time, it is trading at $0.45.

Most of the other top 20 coins have seen low fluctuations, with Dash (DASH) and ZCash (ZEC) being up around 3% for the day as some of the most impressive movements this Thursday.

The total crypto market cap also saw a slight influx in the beginning of the day and is now hovering below the $210 billion mark, with the total number of all cryptocurrencies being listed on CoinMarketCap being 2,062 at press time.

Since the crypto and blockchain industries have recently seen bigger efforts in terms of regulation and adoption, many expect that the Bitcoin and altcoin market will rise by 2019.

 

 

 

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Ripple News

Ripple Reduced Sales In Q3 2019, XRP Is In The Green

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ripple reduced
The latest Ripple news show that the company behind XRP is again in the focus for drastically reducing the sales in the previous quarter of 2019 to $66.24 million which is a drop of 73.66%. Ripple reduced sales in this period and the company said that the XRP sale rate is similar to the inflation rate in Bitcoin (BTC) and lower than the one of Ethereum (ETH) and Litecoin (LTC).Meanwhile, Ripple partnered with Finastra which is the third largest financial services technology firm in the world. The partnership is set to benefit the existing customers of both companies. However, the big question still remains: "Will these positive developments be able to boost the XRP prices?"If we analyze the chart, we can see that Ripple reduced sales and the XRP/USD pair broke above the 20-week EMA but is finding it difficult to sustain above it. However, it has been in the green for the last three weeks which is still a positive sign. The flattening 20-week EMA and the RSI just below this midpoint suggest that the sellers are losing their grip.Above this 20-week EMA, a move to the downtrend line of the descending triangle is possible. This is a major and important level to watch out in the cryptonews, mainly because of the fact that if the bulls can scale it, the bearish pattern will be invalidated.Failure of a bearish pattern is a bullish sign. Hence, if the pair is able to sustain above the downtrend line, a new uptrend is very likely. Meanwhile, while Ripple reduced its Q3 2019 sales, the stats show that XRP is trading with a good vibe.Right now, long-term traders can buy on a close (UTC time) above the downtrend line and keep the stop loss below the recent low. The target objective, as we can see, is a move to $0.76440 with intermediate resistances at $0.5050 and $0.5650 accordingly.Our view will also be invalidated if the pair turns down from the current levels and plummets below $0.22. However, this possibility is not very probable to occur.Meanwhile, the XRP Liquidity Index soared to new all time highs of 3M, according to one analyst and his chart posted on Twitter.https://twitter.com/AlexCobb_/status/1185976077488812032
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Ripple News

XRP Halts Historic Resistance Level As The Crypto Markets Weaken

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XRP Halts
XRP halts its historical resistance level of around $0.30 after it was deemed as one of the best performing cryptocurrencies in recent times despite its price action throughout the first half of the year. Its recent series of surges have led the price to leave the historic level as we are about to see in the XRP news today.It is also very important to note that XRP has lost some of its momentum during the downturn in the aggregated crypto market which has been driven by Bitcoin’s inability to post a notable price increase from its recent lows within the upper $7,000 region. At the time of writing, XRP was trading down at the margins and it is currently at a price level of $0.291 which marks a slight retrace from the recent high of more than $0.30 that was set just a few days ago.  Despite its inability to go past the $0.30 price range, it is imperative to outline that the cryptocurrency surged dramatically from its recent low of $0.24 that was set in the past few months and that it has been able to post some gains right after Bitcoin dropped below $10,000 which is when XRP halts its momentum that most of the altcoins have garnered in the recent times.Bitcoin has continued to consolidate around the $8,000 price range for the past few weeks and has failed to garner any notable momentum which appears to be a really good thing for the XRP price action in the near term. What is also important is that XRP will likely follow Bitcoin's lead if it plummets down further from its current price level so it is important that BTC continues to trade sideways or it starts surging higher if XRP is to gain solid voting within the $0.30 region. XRP’s inability to continue climbing over the past few days comes from the recent visit to the year-long resistance level that has proven to be a very hard one for the bulls to break. The Crypto Dog who is a popular crypto analyst on Twitter explained this earlier in a recent tweet saying that he is taking some of the profits off the table as it trades underneath the resistance level.
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Regulation

Ripple Claims The Lack Of Regulation Can Start A Tech Exodus In USA

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Ripple claims that the lack of clear regulation on digital assets could start a massive exodus on tech firms and tech talent far away from the United States. In the Ripple news today we take a closer look at how this could play out in the future.The head of global institutional markets at Ripple Breanne Madigan says that the first clear use case for XRP and other cryptocurrencies is in the payments industry. She explained:
 “At Ripple, we see payments as the first obvious use case for digital assets. A key innovation in leveraging a blockchain for payments is that you can move value efficiently—and many subsequent use cases for blockchain technology, including trade finance, smart contracts and lending—all stem directly from the payments innovation. This is why we are focused on this baseline use case first. With digital assets, for the first time, there’s a way to settle transactions across currencies instantaneously—this helps optimize risk management frameworks, and reduces significant friction pain points including time, trapped capital, and excessive fees. As additional use cases beyond payments develop, more capital will enter the space.”
From here, Ripple claims that the company has a primary focus on XRP and is using the digital asset as a bridge between fiat currencies. Madigan explained that the company’s on-demand Liquidity platform is designed to give the banks and financial institutions a fully compliant way to send money across the world starting with only one fiat currency and settling in another using XRP to facilitate transactions:
 “Ripple’s vision is to collaborate between traditional financial institutions and technology innovators for the explicit use case of cross border payments. Specifically, by leveraging the digital asset XRP as a bridge currency, Ripple facilitates instant fiat-to-fiat payments across borders for partners like MoneyGram.  There is no singular third party or global central bank that keeps track of how cross-border payments move and are settled, so the world has created a complex system of correspondent banking and nostro/vostro accounts that trap an estimated $10 trillion dollars in capital. Using digital assets as a bridge currency can efficiently free up this trapped capital and make the process of sending money cross-border faster, less expensive, and more scalable, by providing liquidity on demand.”
Madigan says that the regulators should offer more clarity on how cryptocurrencies are treated and regulated. Without clear regulation, the US risks losing the leadership position in new and emerging technologies.
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Ripple News

Ripple’s XRP Sales Are Down By 73% In Q3: Analysis

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Ripple’s XRP sales are down by 73 percent in the third quarter compared to the previous one and it seems like that the blockchain payment network sold $66.24 million worth of XRP in Q3 2019. Let’s find out more about the statistics in the XRP news today.The payment processor announced that their sales are down by 73% which is a huge drop from the previous $251 million in the second quarter. According to the third quarterly report which was released a day ago, Ripple’s XRP sales resulted in a drop since the company announced its plan to slow down with the sales in the third quarter.  Ripple also stated that the XRP distribution rate since the start of the quarter has been lower compared to the inflation rates of ETH and LTC and BTC. The company also noted the allegations that it is dumping XRP on the market and it is trying to manipulate the price by claiming that a significant portion of such ideas will be spread by bot accounts on Twitter. According to the report:
‘’ The dumping accusations usually point to large movements of XRP as proof but those were in fact transfers between ripple treasury and escrow management accounts. Such transactions have no impact on the market since they do not introduce new coins to it.’’
What is also interesting is that Ripple also claimed that according to a new tool that was developed by the Indiana University, the bots are seemingly responsible for 49 percent of the share of conversation about BTC, 71 percent about ETH and 50 percent about XRP. The reports add that this quarter has also seen increased XRP-related activity among the Twitter bots. As it was previously reported, the London-based Finstra which is the third-largest financial services technology company in the world has partnered with the blockchain payment network Ripple to grant its customers access to the RippleNet blockchain network. Also, the CEO of the company claimed that Ripple has more than $300 million in cash in their bank accounts and that it makes up to 30 deals per week. This was slightly made fun of in the crypto space but in the upcoming days, we are about to see what the future brings for Ripple.
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